9 months ago
Iconic Canadian Hotel, Fairmont Le Chateau Montebello, Up for Sale
The famous Fairmont Le Chateau Montebello hotel in Canada is being sold because the company that owns it, Evergrande, has money problems.
The hotel will stay open while it's being sold.
It's a big hotel with lots of rooms and fun things to do like a golf course and a spa.
It's been around for a long time and has hosted important people.
Fairmont Le Chateau Montebello hotel to be sold by PwC, the court-appointed receiver
Hotel has hosted notable figures like Grace Kelly and Margaret Thatcher
Evergrande's insolvent subsidiary, Millennium Golden Jiachen Hotel Holdings Ltd., owes C$58 million to creditors
Hotel will remain open during the sale process, with PwC's Philippe Jordan acting as receiver
Hotel features 211 rooms, an 18-hole golf course, spa, and conference center
- Who
- Fairmont Le Chateau Montebello hotel, owned by Evergrande's insolvent subsidiary
- What
- Being put up for sale
- Where
- Montebello, Quebec, Canada
- When
- Currently, with the sale process ongoing
- Why
- Evergrande's financial troubles and debts to creditors
Pros of Sale
Cons of Sale
Hotel's Future
Pros of Sale
Sale could bring new investment and improvements to the hotel
Cons of Sale
New owners might change the hotel's character or close it
Key facts
- Hotel Name
- Fairmont Le Chateau Montebello
- Location
- Montebello, Quebec, Canada
- Distance from Montreal
- 134 kilometers (83 miles)
- Rooms
- Over 211 rooms and suites
- Purchase Year by Evergrande
- 2014
- Previous Owner
- Oxford Properties Group Inc.
- Court-Appointed Receiver
- Philippe Jordan, PwC partner
Quotes
Philippe Jordan
Philippe Jordan, a partner with PricewaterhouseCoopers LLP and the court-appointed receiver for the hotel's insolvency process
“We are currently taking the necessary steps to contact stakeholders, including Millennium and Accor. Ultimately, the action plan will include putting the hotel up for sale.”
CNBC TV 18
Sources
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